What is a good response to the information below?

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• A business recognize when to create incoices when a customer does not pay full at the time that service is provided or sells any product. A business also recognize when to create sales recipt when payment is made at the time the service is performed and it is entered as a cash sale.

What are the significant differences between sales receipts and invoices?

The differences between sales receipts and invoices are:

Sales Receipts:

1. Proofs that customers paid for the products or goods.
2. No money is owned once the transaction is completed.
3. Basically is like entering a sales receipt and an invoice in one single transaction.

An example would be going groceries shopping and receiving a receipt once paying cash or swiping a credit card.

Invoices:

1. Tracks the sale of a business's goods or services.
2. It lets customers know the total amount of money they owe money to the business.
3. It is a request of payment.

An example would be going to eat at a restaurant such as Outback or Olive Garden and the waiter brings in an invoice (check) once everyone is done eating to alert them the amount that is owe.

What industries will most likely use invoices over sales receipts?

• Industries such as manufacturing, professional services, wholesales, transportation are most likely to use invoices over sales receipt.